The B2B sales landscape has changed dramatically.
The market has become more crowded, and buyers are now more tech-savvy than ever. As buyer expectations have increased, businesses are changing their strategies in order to meet them.
It is difficult for companies that are not prepared or focused on digital engagement to catch up.
Now the question is: What can they do in order to get the attention of the buyers back?
Three things are important for sellers:
- The buyer is in control. Although they have access to a lot of information, they don’t always know how to decipher it. Sellers need to assist them.
- The customer’s journey isn’t linear, and it has changed dramatically over the past few years. This means that buyers may not engage with brands until they are at the end of their buying journey, and sellers must take this into account.
- The seller needs to understand the buyer’s journey, including what each step is trying to achieve. This will allow them to determine when and where to be. They can also decide what message to convey and how they want to customize it for different stakeholders.
Brands that build confidence in buyers and make the purchasing process easier will be the ones that win.
Learn how to map the buyer’s journey and who are the key stakeholders
The companies think they’ve got the buyer journey down pat. But do they really?
The journey can be simple for some people, while it is complex and difficult for others. There is no “one-size-fits-all” approach. The B2B buying journey is changing in some ways, and companies need to understand the new nuances, challenges, and opportunities.
When it comes to understanding the customer journey, sellers face two major obstacles.
- Before they engage with brands, buyers tend to have completed a large part of their journey. By that time, sellers may be locked out and may not have a chance to win business.
- Five to ten stakeholders can be involved at any time in the decision-making process. Each has different needs and values.
Before it’s too far gone, sellers need to reach out to buyers.
The easiest way to understand the buyer journey is by identifying the tasks that buyers are trying to complete.
Gartner has applied this thinking to its “Jobs to Be Done” framework. This framework identifies six generic tasks that can be used in many situations: problem definition, solution exploration, building requirements, supplier considerations, validation of capabilities, and consensus creation.
Gartner’s framework highlights that almost every B2B sale is successful when it has completed the first four steps. B2B buyers are addressing tasks 5 and 6 throughout the whole buying process.
Connecting the buyer journey with the sales process
B2B sales have been radically disrupted in a short time. The companies are searching for ways to manage these changes without compromising their business. To achieve this, companies must anticipate the challenges that will arise during the buyer’s experience.
Most successful companies overcome obstacles by learning needs and expectations. They also pilot concepts and methods and continually pivot to maximize brand engagement.
The buyer’s journey is not linear; many steps are repeated. Sellers need to go backward, in a way, to anticipate any obstacles that buyers may encounter along the journey. The seller must first understand the job that the buyer wants to achieve and then determine what steps they need to take to get there. Sellers can engage buyers earlier in the purchasing process, allowing them to become more involved and be considered.
Buyers’ behaviors change as they navigate changes. Companies’ marketing and sales efforts depend on an understanding of the buyer: their needs, expectations, and purchasing journey. Sellers need to adapt their deal metrics to evaluate their ability to engage buyers and move them along their journey.
Maximize win rates by maximizing digital tools for brand engagement.
Many say B2B should learn from B2C’s buying and selling processes. The new omnichannel is blending online and offline experiences while focusing on social connections, and buyers will be more likely to buy from sellers who can do this.
Consumers continue to demand personalization, particularly in the face of individualism and the “me over you” mentality. Personalization is all about data, and this is no different for the B2B sector.
Sellers can gain valuable insight into the behaviors, interests, and preferences of their customers by collecting data through IoT device interactions. These data can be used to create personas and segmentation to optimize targeting.
Technology is also a key part of B2B sales. It shapes the future of research, shopping, and buying. Crypto wallets and 3D assets make products more real, while virtual try-ons and 3D assets bring them to life. Conversational commerce allows shoppers to speak directly with a customer service representative, while headless technology makes online shopping accessible anywhere.
All of these technologies share one common trait: they are easy to use and convenient for the customer. Customers are looking for a simple and accurate shopping experience. Sellers who can attract customers using this new technology will be successful.